Point72 Hong Kong Ltd Purchases New Position in Bank OZK (NASDAQ:OZK)

Point72 Hong Kong Ltd acquired a new position in shares of Bank OZK (NASDAQ:OZK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,204 shares of the company’s stock, valued at approximately $1,771,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tidal Investments LLC lifted its position in shares of Bank OZK by 4.0% during the first quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after purchasing an additional 210 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Bank OZK by 8.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock worth $208,000 after buying an additional 388 shares in the last quarter. Naples Global Advisors LLC lifted its position in shares of Bank OZK by 2.5% during the 2nd quarter. Naples Global Advisors LLC now owns 16,550 shares of the company’s stock worth $679,000 after buying an additional 400 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Bank OZK by 6.0% in the 3rd quarter. Raymond James Trust N.A. now owns 7,184 shares of the company’s stock worth $309,000 after buying an additional 407 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Bank OZK by 73.8% in the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after acquiring an additional 411 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Price Performance

OZK opened at $49.97 on Monday. The firm has a 50-day moving average price of $45.19 and a 200-day moving average price of $43.28. Bank OZK has a twelve month low of $37.43 and a twelve month high of $52.36. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 8.22 and a beta of 1.16.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. The business had revenue of $423.00 million during the quarter, compared to analyst estimates of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. Equities analysts expect that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were issued a dividend of $0.41 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. Bank OZK’s dividend payout ratio is 26.97%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial dropped their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. Morgan Stanley boosted their price target on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Stephens increased their price target on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Finally, Piper Sandler increased their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.50.

About Bank OZK

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.